Prices in Baku real estate market up

In July 2018, prices in the Baku real estate market increased by 2.06 percent compared to June, General Director of the MBA Group and a real estate expert Nusret Ibrahimov told Trend.

According to the expert, over the past month, the increase in prices affected virtually all segments of the market, except for commercial facilities.

"Prices increased in the primary housing market by 0.28 percent, in the secondary market by 0.1 percent, in the land market by 3.71 percent, in the market of private and country houses by 2.64 percent. Rentals for housing increased by 3.98 percent and rentals for commercial facilities increased by 1.32 percent, while prices in the commercial property market declined by 0.26 percent in July," Ibrahimov said.

The expert highlighted that in comparison with the end of July 2017, prices in real estate market have grown by 1.7 percent.

According to him, growth is mainly associated with higher prices in the commercial property rental market and the land market.